LAS VEGAS IS COMING BACK IN 2013 ................

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Hi, All

I attended the Annual Preview of Las Vegas Metro Chamber of Commerce yesterday.  It is exciting to hear the analyst forecast the economy of Las Vegas. I want to share some information with you.

Las Vegas is really building the infrastructure to be the world leading meeting, trade show and leisure place.  For the last consecutive 18 years, among TSNN 250 trade shows, Las Vegas has always been the number one city that holds trade shows.  In any given day, Las Vegas has 301,000 foot print in the city.  We expect over 40.1 million visitors in the year of 2013. Currently, most of the tourists are from Canada and Mexico, the 2nd largest group is European. However, the city is working on developing tourism from countries like China, Russia and India.  Even if we are competing internet gambling and gambling from Macau, there is only one Las Vegas that everyone wants to visit.

Las Vegas  education has improved as well. Eighth grade reading has rated number 3 for improvement and eighth grade math rated 7th place for improvement in the nation. UNLV has been rated the 12th most popular university in the nation.

At the end of 2012, REO sales only counted 9 percent, new construction is rising. Home price is up 21.4% and will continue to rise.  Builders will build more houses in 2013.  The cost of construction and lack of land permit are the two biggest concern, therefore, prices will go up. Please educate your client of housing price.

The new development of Las Vegas outlet will create 1500 full time jobs, also, it is approved EB5 project which will attract more foreign investors.  New development and new construction will create huge ripple effect for the Las Vegas economy and many small businesses and job opportunities. 

Are you ready for the Las Vegas Coming Back?



Jia Mei Wang
Mortgage Consultant/Branch Manager
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Summit Funding Inc. #3199

6256 Spring Mountain Road, Ste 100
Las Vegas, NV 89146
Office:  702-876-8678
Fax: 702-948-6221
NMLS# 317981
We're a DIRECT FHA, VA, USDA, CalSTRS and Conventional lender!

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